Firms deducting the asset's full cost at the time of acquisition from taxable income is called investment tax credit.
A. True
B. False
C. Uncertain
B. False
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The price elasticity of new automobile purchases is about 1.2. This implies that an increase of $1,000 on a $10,000 automobile will
A. reduce the number of autos sold by approximately 1.2 percent. B. increase the consumer expenditures on autos by approximately 1.2 percent. C. reduce the number of autos sold by approximately 12 percent. D. increase consumer expenditures on autos by approximately 12 percent.
In the long run, price elasticities of demand are usually ____
a. less than they are in the short run because people can adjust b. the same as they are in the short run because tastes don't change c. greater than they are in the short run because prices rise over time d. less than they are in the short run because real prices fall over time e. greater than they are in the short run because consumers have time to adjust
If income in the United States rises relative to income in Japan, the yen should appreciate against the dollar, ceteris paribus.
Answer the following statement true (T) or false (F)
How much money can a bank loan if it receives an initial deposit of $4,000 and the required reserve ratio is 20%?
a) $800 b) $3,200 c) $4,000 d) $20,000